Airtel garners over ₹5,200 crore from first tranche of payment in rights issue

PTI New Delhi | Updated on October 28, 2021

The applicants paid ₹133.75 per share

Bharti Airtel is estimated to have garnered over ₹5,200 crore from the first round of payment in its recently-concluded rights issue, as the telco's special committee approved allotment of 39.2 crore equity shares to eligible applicants.

The applicants paid ₹133.75 per share on application, with the balance sum to be paid in two more additional calls as may be decided by the board, the company said in a regulatory filing.

"...the special committee of directors for rights issue, at its meeting held today...approved the allotment of 392,287,662 rights equity shares to the eligible applicants, with ₹133.75 paid on application and balance to be paid in two more additional calls...," the filing said.

This implies that Airtel has raised an estimated ₹5,243 crore from the initial tranche.

Pursuant to the allotment, the paid-up equity share capital of the company has also increased.

"...the paid-up equity share capital of the company has increased from ₹27,460.14 million to 27,950.49 million consisting of 5,492,027,268 fully paid-up equity shares of ₹5 each and 392,287,662 partly paid-up equity shares (₹1.25 partly paid-up)," it added.

Bharti Airtel's about ₹21,000 crore rights issue had opened on October 5 and closed on October 21, 2021, and was oversubscribed.

Published on October 28, 2021

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